Middle East Loans

Kuwait National Petroleum (KNP) is in talks with 10 banks over a loan to fund its expansion plans.

Gulf issuance dominated the picture in the CEEMEA bond market during the first half of the week as Oman brought the year’s first bumper sovereign deal from the region and two UAE borrowers boosted supply.

Israeli energy company Delek Group has mandated two banks to lead the syndication of a $1.75bn loan which will back its drilling operations in the recently discovered Leviathan natural gas basin in the Mediterranean.

With four big loan deals already in the market for Omani borrowers this year and more expected, bankers are concerned that lenders could fast run up against country limits. With a big hole to plug in Oman's budget, spillover to the bond market looks inevitable, writes Bianca Boorer.

Oman’s sovereign wealth fund is in the market for a $600m loan to support its acquisition of a stake in Oman Telecommunications, and is tapping Asian liquidity for the first time. With several Gulf nations making efforts to contain budget deficits, including by selling assets, borrowers from the region could be ones to watch. Shruti Chaturvedi reports.

A syndicated loan of as much as $3bn for Dubai Airports looks set to be wrapped up in just under a month’s time, according to a banker close to the deal.

The sovereign wealth fund of Oman is seeking to establish relationships with regional banks in Asia through a $600m syndicated loan to fund its acquisition of a stake in Oman Telecommunications.

Dubai is closing in on loans of as much as $3bn to fund its airport expansion, but bankers have said that pricing remains an area of negotiation.

Loan bankers are demanding clarity on the true ownership of the 19.5% stake in Rosneft privatised at the end of last year, as Intesa Sanpaolo prepares to syndicate the €5.2bn loan it has provided to back the deal, write Dan Alderson and Jon Hay.

Saudi Basic Industries Corp (Sabic) has reopened discussions with banks for a loan of as much as $2bn, having put funding plans on hold last year.

If “keeping one’s cards close to one’s chest” in negotiations while also acknowledging the need for market certainty seems like a peculiarly Brexit paradox, try managing the funding plans of a Gulf state as it tries to deal with a budget deficit.

Industrial and Commercial Bank of China has bolstered its loan syndication and sales effort in London with a hire as the bank looks to establish a stronger foothold in the Europe, Middle East and Africa market.